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Q2 2026 · SEC CIK 0001061165

Stephen Mandel portfolio

SuperinvestorHedge fundLone Pine Capital LLC filed on 2026-08-14. Open SEC filings ↗

Reported 13F value
$16.4B
Reported positions
34
Eligible equities
33
Holdings vs S&P 500, 3 years
+4.6 pts

Average holding period of the top positions: 2 qtrs. Holdings vs the S&P 500 over 1 and 5 years: -12.3 pts, -0.4 pts.

In its Q2 2026 13F, filed 2026-08-14, Lone Pine Capital LLC reported 34 positions worth $16.4B. Its largest holdings were NEBIUS GROUP N.V. (NBIS, 7.2%), ASML HLDG NV (ASML, 6.9%), SEAGATE TECHNOLOGY HLDNGS PL (STX, 5.9%). Over the last 3 years its top holdings ran 4.6 points a year ahead of the S&P 500.

Reported holdings in the Q2 2026 snapshot.

The portfolio weight uses the full reported share-portfolio denominator. Weight changes compare Q1 2026 to Q2 2026; price moves also change weights, so these are not trade labels. “New” means the position was not in the previous 13F at all; “—” marks a small position the earlier filing data does not cover.

Stephen Mandel eligible holdings
Stock% of reported portfolioWeight changeReported value
NBISNEBIUS GROUP N.V.7.2%New$1.2B
ASMLASML HLDG NV6.9%+0.02 pp$1.1B
STXSEAGATE TECHNOLOGY HLDNGS PL5.9%New$965.1M
HDHOME DEPOT INC5.6%New$918.1M
AMATAPPLIED MATLS INC5.3%New$873.2M
MDLNMEDLINE INC5.1%+0.87 pp$827.0M
LINLINDE PLC4.9%New$808.6M
TERTERADYNE INC4.4%-0.01 pp$722.4M
GLWCORNING INC4.3%+0.23 pp$696.8M
CVNACARVANA CO4.2%-0.17 pp$692.5M
HUTHUT 8 CORP4.1%+1.80 pp$666.5M
PFGCPERFORMANCE FOOD GROUP CO4.0%+1.28 pp$654.3M
NUNU HLDGS LTD3.9%-0.50 pp$630.9M
WULFTERAWULF INC3.6%+1.35 pp$596.4M
CRSCARPENTER TECHNOLOGY CORP3.6%-2.08 pp$593.9M
MTZMASTEC INC3.4%-0.51 pp$559.7M
APPAPPLOVIN CORP3.3%-1.36 pp$537.0M
TTMITTM TECHNOLOGIES INC3.1%New$512.1M
STRLSTERLING INFRASTRUCTURE INC3.1%New$511.7M
USFDUS FOODS HLDG CORP3.1%+0.28 pp$502.5M
LPLALPL FINL HLDGS INC2.1%-2.82 pp$343.4M
AGXARGAN INC1.8%+0.09 pp$294.4M
BTDRBITDEER TECHNOLOGIES GROUP0.7%New$111.4M
SHAZSHARONAI HOLDINGS INC0.6%New$102.4M
GOOGLALPHABET INC0.5%+0.04 pp$77.0M
KGSKODIAK GAS SVCS INC0.4%New$63.5M
VVISA INC0.3%+0.12 pp$56.9M
IBKRINTERACTIVE BROKERS GROUP IN0.3%New$50.3M
TSMTAIWAN SEMICONDUCTOR MANUFAC0.3%-3.45 pp$48.4M
SESEA LTD0.3%New$47.4M
MCKMCKESSON CORP0.3%-2.44 pp$43.7M
TDGTRANSDIGM GROUP INC0.2%-0.10 pp$38.0M
BNBROOKFIELD CORP0.2%-3.41 pp$33.8M

What Stephen Mandel bought and sold in Q2 2026, against Q1 2026.

New positions

Added to

Reduced

Sold out

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year
+5.9% /yr
S&P 500 +20.1%
3 years
+24.2% /yr
S&P 500 +20.4%
5 years
+10.4% /yr
S&P 500 +13.3%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Questions about Stephen Mandel's portfolio

What stocks does Stephen Mandel own?

Lone Pine Capital LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 34 positions worth $16.4B. The largest are Nebius Group N.v. Shs Class A (NBIS) at 7.2%, Asml Hldg NV (ASML) at 6.9%, Seagate Technology Hldngs Pl (STX) at 5.9%, Home Depot Inc Com (HD) at 5.6% and Applied Matls Inc (AMAT) at 5.3%.

What did Stephen Mandel buy last quarter?

In Q2 2026, Lone Pine Capital LLC added a new position in Nebius Group N.v. Shs Class A (NBIS), a new position in Seagate Technology Hldngs Pl (STX), a new position in Home Depot Inc Com (HD), a new position in Applied Matls Inc (AMAT), a new position in Linde PLC (LIN), Carvana Co (CVNA) (+499.6% shares), Visa Inc Com Cl A (V) (+78.9% shares) and Medline Inc (MDLN) (+77.9% shares), compared with its Q1 2026 filing.

What did Stephen Mandel sell last quarter?

In Q2 2026, Lone Pine Capital LLC sold all of Vistra Corp Com (VST), sold all of Talen Energy Corp (TLN), sold all of Clean Harbors Inc (CLH), sold all of Tenet Healthcare Corp (THC), sold all of Capital One Financial Corp (COF), Brookfield Corp (BN) (-92.9% shares), Taiwan Semiconductor Manufac (TSM) (-92.7% shares) and Mckesson Corp Com (MCK) (-85.3% shares), compared with its Q1 2026 filing.

How has Stephen Mandel's portfolio performed?

A portfolio copying Lone Pine Capital LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +24.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +5.9% against +20.1%. Over 5 years: +10.4% a year against +13.3%.

When is Lone Pine Capital LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Lone Pine Capital LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Lone Pine Capital LLC manage?

Lone Pine Capital LLC reported $21.6B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $16.4B.